Un-audited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 with limited review report form statutory auditors.
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G. G. Dandekar Properties Ltd (formerly G. G. Dandekar Machine Works Ltd) reported a weak Q3 FY26 with standalone net loss of ₹68.50 lakhs versus a profit of ₹117.87 lakhs in Q3 FY25, as revenue from operations fell 12% YoY to ₹80.54 lakhs and depreciation of ₹64.76 lakhs wiped out operating income. However, 9M FY26 standalone net profit surged to ₹290.06 lakhs (from ₹39.74 lakhs) almost entirely on a one-time exceptional gain of ₹394.94 lakhs from sale of freehold land in Bhiwandi during Q1 FY26. Consolidated 9M FY26 net profit was ₹124.60 lakhs (vs ₹66.32 lakhs), including ₹66.25 lakhs share of profit from associate Navasasyam Dandekar Pvt Ltd. The core leasing business itself remains in operating loss (₹28.92 lakhs loss before exceptional items this quarter). Auditor CNK JBMS & Associates issued an unqualified limited review report. The company has no debt defaults, with total financial indebtedness of ₹3.88 crore. Income tax disputes for AY 2011-12 and 2013-14 remain pending under the DTVSV (Vivaad se Vishwas) scheme with no progress this quarter.
The headline nine-month profit is not from sustainable operations but from a one-time land sale and associate buyback gains — shareholders should view this as a windfall, not a turnaround. The core leasing business continues to post operating losses, so recurring earnings power remains weak even as cash reserves get a boost from the divestment.